$234 Billion Looted During Sheikh Hasina’s Tenure: Explosive Allegations in FT Documentary

 Staff Reporter | PNN

The London-based daily Financial Times (FT) has recently produced a documentary detailing corruption, money laundering, and the prospects for recovery in Bangladesh. The documentary is titled “Bangladesh’s Missing Billions, Stolen in Plain Sight.”

The documentary claims that during Prime Minister Sheikh Hasina’s 15-year tenure, nearly $234 billion was looted. It explores how the money left the country, was sent abroad, and whether it can be recovered, with insights from protesters, politicians, businesspeople, and experts.

It mentions that in some cases, banks and businesses were seized to facilitate the loot, with bank directors and officials forced at gunpoint to hand over shares. The documentary also links these takeovers to rising rates of non-performing loans.

Furthermore, the documentary identifies the main methods for sending money abroad as over-invoicing and under-invoicing, along with informal channels such as Hundi or Hawala.

The FT report highlights Saifullah Alam, owner of S. Alam Group, as a billionaire. According to the interim government’s estimates, S. Alam and his group reportedly sent about $10 billion out of Bangladesh, although the group has denied the allegation.

The documentary also features Dr. Muhammad Yunus, who commented that across banking and business sectors, $234 billion has been looted—possibly the largest financial theft in the world.

In addition to exposing the scale of corruption in Bangladesh’s politics and economy, the documentary presents various experts’ opinions on how this money could potentially be recovered.